News

DUBAI / WAM Boksha, an Emirati-founded tech startup, has secured $1 million from a group of investors, which includes Sandooq Al Watan and family offices. Founded in 2018, the platform is the largest online marketplace for independent fashion designers in the region offering Khaleeji themes. This is the company’s first raise; it has bootstrapped itself since then to offering over ...

SHARJAH / WAM Air Arabia has announced the introduction of a new service to Phuket, Thailand, with direct flights from Sharjah International Airport starting on July 02. Air Arabia is the first low-cost carrier in the region to launch a direct route to Phuket. The Tourism Authority of Thailand has confirmed that travellers who have been vaccinated against Covid-19 from ...

Abu Dhabi / WAM S&P Global Ratings has assigned ‘AA-‘ long-term issuer credit rating with stable outlook to Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda. The bank has also been assigned a ‘gcAAA’ long-term GCC regional scale rating by S&P Global Ratings, said a statement issued by EDB on Monday. ...

SHARJAH / WAM The Sharjah Chamber of Commerce and Industry (SCCI) welcomed Lars Pera, Ambassador of Guatemala to the UAE, and Jose Bassila, Commercial Counsellor at the Embassy of Guatemala, to discuss means to boost bilateral ties and stimulate investments in food security, waste management and natural tourism fields, among others. The two sides agreed to organise a coordination meeting ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it conducted 208,090 additional Covid-19 tests over the past 24 hours, using state-of-the-art medical testing equipment. In a statement on Monday, the ministry stressed its aim to continue expanding the scope of testing nationwide to facilitate the early detection of coronavirus cases and carry out the necessary ...

Abu Dhabi / WAM First Abu Dhabi Bank (FAB) announced the signing of an agreement with the Mohammed bin Rashid Housing Establishment (MBRHE) to provide flexible financing options for UAE nationals seeking suitable family housing. The agreement comes as part of the ‘Al Yusr’ programme, one of the housing establishment’s initiatives aimed at providing the best financing options for nationals ...

SHARJAH / WAM Air Arabia has announced the introduction of a new service to Phuket, Thailand, with direct flights from Sharjah International Airport starting on July 2. Air Arabia is the first low-cost carrier in the region to launch a direct route to Phuket. The Tourism Authority of Thailand has confirmed that travellers who have been vaccinated against Covid-19 from ...

Dubai / WAM Dubai Electricity and Water Authority (Dewa) announced it will organise the 23rd Water, Energy, Technology, and Environment Exhibition (Wetex) and Dubai Solar Show from October 5-7, at Expo 2020 Dubai. Dewa is the Official Sustainable Energy Partner of Expo 2020 Dubai. The announcement was made by Saeed Mohammed Al Tayer, MD and CEO of Dewa, Founder and ...

Bloomberg China’s exports continued to surge in May, although at a slower pace than the previous month, fuelled by strong global demand as more economies around the world opened up. Imports soared, boosted by rising commodity prices. Exports grew almost 28% in dollar terms in May from a year earlier, the customs administration said on Monday, weaker than forecast and ...

Bloomberg Construction firm Katerra Inc filed for bankruptcy protection in the US, bookending the implosion of a startup that raised about $2 billion from investors including SoftBank Group Corp. The company filed Chapter 11 proceedings in the Southern District of Texas court. It estimated liabilities of $1 billion to $10 billion and assets of $500 million to $1 billion. The ...